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CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities    
Net income $ 2,125 $ 2,280
Adjustments to reconcile net income to cash provided by operating activities    
Depreciation 1,251 2,102
Amortization of intangibles 1,251 1,250
Stock-based compensation 488 457
Net (gain)/loss on asset sales and other (100) (144)
Changes in operating assets and liabilities, net of acquisitions/divestitures (446) 1,594
Net cash provided by operating activities 4,569 7,539
Cash flows from investing activities    
Payments for property, plant and equipment (620) (1,054)
Proceeds from disposition of property, plant and equipment 90 215
Investment in software (341) (379)
Acquisition of businesses, net of cash acquired (958) (2,866)
Divestiture of businesses, net of cash transferred 1,268 (25)
Non-operating finance receivables - net 0 16
Purchases of marketable securities and other investments (2,336) (1,890)
Proceeds from disposition of marketable securities and other investments 1,711 1,312
Net cash provided by/(used in) investing activities (1,186) (4,671)
Cash flows from financing activities    
Proceeds from new debt 4,402 243
Payments to settle debt (3,959) (5,974)
Short-term borrowings/(repayments) less than 90 days - net (9) (68)
Common stock repurchases for tax withholdings (315) (234)
Financing - other 25 44
Cash dividends paid (2,963) (2,924)
Net cash provided by/(used in) financing activities (2,819) (8,914)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (267) (65)
Net change in cash, cash equivalents and restricted cash 297 (6,110)
Cash, cash equivalents and restricted cash at January 1 6,957 13,675
Cash, cash equivalents and restricted cash at June 30 $ 7,254 $ 7,565